Nestlé reports 4% organic growth in the third quarter
· BehindLines newsroom
Nestlé released its sales figures for the third quarter and first nine months of 2026 on October 22. The food group reported quarterly organic growth of 4%, while retaining its full-year target of 3% to 4%. Reuters and dpa-AFX reported on these results.
Two periods, different measures
For July to September, the company reported sales of 22.756 billion Swiss francs, compared with 21.641 billion a year earlier. Organic growth is a separate measure from the change in reported revenue. Nestlé reports a positive currency effect of 1.5% for the quarter. Its release says deconsolidation of the Russian business, effective at September’s end, does not affect quarterly or nine-month sales.
Nestlé recorded real internal growth, known as RIG, of 2.8% in the third quarter, while pricing contributed 1.1%. According to Nestlé’s published definition, RIG reflects volumes and, at group level, the mix of products sold.
For January to September, sales totalled 65.865 billion Swiss francs, almost unchanged from 65.869 billion in the same period of 2025. Yet organic growth over those nine months reached 3.7%. The group’s table separately identifies currency effects and changes in the scope of its business, which account for the difference from reported sales.
A recovery that still needs consistency
Reuters said quarterly organic growth exceeded the 3.4% expected by the analysts cited in its report. According to the agency, Vontobel analysts viewed the improvement driven by volumes as encouraging, while stressing that consistent performance remained to be demonstrated.
The agency also reported Barclays’ questions about pricing and margins in 2027, as consumers face tighter budgets and costs rise. One quarter’s improvement therefore leaves questions about what comes next.
Dpa-AFX highlighted the recovery in pet food and the solid performance of food and snacks. Management’s decision to maintain its annual targets remains a forecast, separate from the sales the company has already achieved.